See what hurt Epicentre Holdings revenues in 1HFY2012

Malaysia, PRC markets saw big declines.

In a release accompanying its results for the first half of FY2012, Epicentre Holdings revealed that revenue decreased by 3.9% to S$89 million compared to S$92.6 million in the corresponding preceding period. 

"Revenue from Singapore experienced a slight reduction of approximately 1.4% while revenue from Malaysia experienced a decrease of 15.2% due more conservative buying behavior by the consumers as a result of uncertainty in the macro-economic conditions. Inventory constraints for certain new product models that was launched in 1H FY2013 also limited our revenue growth. Revenue from the PRC also did not meet the Group’s expectations as a result of challenging market conditions," the company said.

Gross profit also decreased from S$12.0 million in 1H FY2012 to S$10.4 million in 1H FY2013. Gross profit margin declined from 13.0% in 1H FY2012 to 11.6% in 1H FY2013.

"The decline was due to lower margin contributed by Apple branded products. Apple Branded products contributed to approximately 87% of our Group revenue in 1H FY2013. The aggressive promotional bundle created to promote our sales also had a negative impact on our profit margin," the company explained.